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Technology Stocks : GX Investors Thread
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To: Alphapenguin who wrote (192)8/29/2001 6:10:03 PM
From: Bonzo  Read Replies (3) of 586
 
I think the worst thing GX could do right now is buy back stock. You don't buy back stock when you are laying off hundreds of employees, closing dozens of worldwide offices and aligning projected expenses with lowered revenue guidance. That $2B cash horde has to get them through this difficult world economic environment. Whatever GX stated two years ago was done under a different economic environment with a different CEO. The Global Center spin-off (and subsequent share distribution) was scrapped in favor of an Exodus acquisition. Its a dynamic and evolving business environment and GX has (mostly) made the right decisions imo. The CEO revolving door and the Exodus write down have hurt GX in the past and continue to plague the stock.
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